26.10.2006: Sustainable Energy Arranges Export Financing
The initial facility - which is for $500,000 - will be used to finance working capital requirements associated with the Company’s previously announced $2.5 million Supply Contract in Spain. Production for this project is on track and the first products will be delivered to the project developer this month.
“We are very pleased with our new financial partnership and with our relationship with Export Development Canada,” said Michael Carten President & CEO of Sustainable Energy. It improves our liquidity, and will help us to grow our business more quickly in Spain and other European markets.
About Sustainable Energy
Based in Calgary Alberta, Sustainable Energy (www.sustainableenergy.com) develops manufactures and markets advanced power inverters for the renewable energy industry. Power inverters are strategic to the integration of new renewable energy technologies – solar and wind power, fuel cells, and energy storage systems – into the high quality power demands of the modern electrical grid.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.
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President & CEO
Sustainable Energy Technologies Ltd
Tel: 403.508.7177 #111